Wipro shares gain 6.5% despite a nearly 5% QoQ fall in Q2 net profits; sluggish trends ahead?

Wipro shares gained 6.5% during the trading session on Friday, October 16, as investors focused on the company’s slightly better-than-expected overall Q2 earnings performance, despite the sequential fall in net profits in the period.

NSE data showed that Wipro share surged 6.5% to ₹185.45 apiece on Friday’s market, in comparison to ₹174.05 apiece at the previous equity market close.

Trading volumes surpassed 5.94 crore equity shares across NSE and BSE combined, triggering the high-volume momentum on Friday’s trading session, after a subdued performance during the early hours.

As of 1 pm (IST), Wipro shares were trading 5.8% higher at around ₹184.22 apiece on October 16.

Investors were focused on the company’s revenue growth both year-on-year and on a sequential basis, while experts indicate weakness ahead in the third quarter of the current fiscal.

Mixed Q2 earnings?

On a year-on-year basis, Wipro’s consolidated net profits declined 1.9% in the September quarter, while the revenues gained over 9% in comparison to the second quarter of the previous financial year.

The IT company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) or operating profit surged 11.21% YoY to ₹4,863 crore as compared to ₹4,372 crore in the corresponding quarter a year ago.

The filings further showed that the IT company’s voluntary attrition was at 13.8% on a trailing 12-month basis as of the quarter ended September 2026.

Analysts predict sluggish trends ahead

After the Q2 earnings, analysts from Citibank said that Wipro delivered slightly better-than-expected earnings in the July to September quarter of FY27, exceeding the muted/low expectations in the period under review.

“Forward-looking indicators continue to suggest sluggish trends,” said Citibank analysts.

The analyst also said that they expect the third quarter of FY27 to be another quarter-on-quarter (QoQ) decline at the midpoint, while the company’s management focuses efforts to achieve consistent QoQ organic growth.

In line with the review, Nomura analysts slightly beat estimates on revenue with in-line margins in the September quarter. Wipro’s management guidance for Q3 FY27 is in line with the global brokerage’s estimates.

“Expects to return to target margin band of 17-17.5% over time,” said Nomura analysts.

Q3 FY27 guidance

Wipro’s management expects that the company’s IT services business segment revenues are expected to be in the range of $2,571 to $2,625 million in the third quarter of the financial year 2026-27.

“This translates to sequential guidance of (-)1.5% to (+)0.5% in constant currency terms,” Wipro said in its official statement.

Jefferies analysts also expect the IT company’s growth outlook to remain weak in the upcoming period.

“Growth outlook remains weak; 45% YoY decline in deal wins points to a weaker growth outlook,” said Jefferies analysts.

Wipro share price trend

NSE data showed that Wipro shares have lost 48% of their value in the last five years and have declined 10% in the last three years. The company’s stock has dropped more than 27% in the last one-year period.

On a year-to-date (YTD) basis, the stock has lost 31.4% of its value in 2026.

In the near term, Wipro shares have risen 9.8% in the last one-month period and have risen 12.75% in the past five market sessions, according to the exchange data.

Shares of Wipro surged to their 52-week high of ₹273.10 apiece on December 22, 2025, while the 52-week low was at ₹156.79 apiece on September 29, 2026.

The company’s market capitalisation (m-cap) was at more than ₹1.82 lakh crore as of the trading session on Friday, October 16, 2026.